Brown & Brown (BRO) Upgraded at SunTrust Banks

Brown & Brown (NYSE:BRO) was upgraded by equities researchers at SunTrust Banks from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Other equities analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Brown & Brown from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Wednesday, November 1st. Wells Fargo & Company set a $45.00 price objective on shares of Brown & Brown and gave the stock a “hold” rating in a report on Monday, October 16th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $45.00 price objective on shares of Brown & Brown in a report on Monday, October 16th. BidaskClub raised shares of Brown & Brown from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, Citigroup cut shares of Brown & Brown from a “neutral” rating to a “sell” rating and set a $47.00 target price on the stock. in a research note on Wednesday, November 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $46.11.

Shares of Brown & Brown (NYSE BRO) opened at $50.95 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $7,183.47, a PE ratio of 27.56, a PEG ratio of 2.77 and a beta of 0.80. Brown & Brown has a 1-year low of $41.10 and a 1-year high of $52.42.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, October 16th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The company had revenue of $475.60 million for the quarter, compared to the consensus estimate of $475.13 million. Brown & Brown had a net margin of 14.66% and a return on equity of 10.99%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 earnings per share. sell-side analysts forecast that Brown & Brown will post 1.86 earnings per share for the current year.

In other news, insider Michael Waldkirch sold 75,000 shares of Brown & Brown stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $0.75, for a total transaction of $56,250.00. Also, Director Richard Silas sold 50,000 shares of Brown & Brown stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $0.83, for a total transaction of $41,500.00. In the last quarter, insiders have sold 163,000 shares of company stock worth $126,250. Company insiders own 16.98% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in BRO. IFP Advisors Inc grew its holdings in shares of Brown & Brown by 9.8% in the second quarter. IFP Advisors Inc now owns 2,823 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 251 shares in the last quarter. Mosaic Family Wealth LLC boosted its stake in Brown & Brown by 5.9% during the second quarter. Mosaic Family Wealth LLC now owns 4,208 shares of the financial services provider’s stock worth $181,000 after buying an additional 235 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Brown & Brown by 10.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,322 shares of the financial services provider’s stock worth $186,000 after buying an additional 405 shares during the period. Rowland & Co. Investment Counsel ADV boosted its stake in Brown & Brown by 4.1% during the second quarter. Rowland & Co. Investment Counsel ADV now owns 4,465 shares of the financial services provider’s stock worth $193,000 after buying an additional 175 shares during the period. Finally, Parametrica Management Ltd purchased a new position in Brown & Brown during the third quarter worth $218,000. Hedge funds and other institutional investors own 71.96% of the company’s stock.

TRADEMARK VIOLATION WARNING: This story was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another site, it was illegally copied and reposted in violation of international copyright laws. The original version of this story can be viewed at https://ledgergazette.com/2017/12/06/brown-brown-bro-upgraded-at-suntrust-banks.html.

About Brown & Brown

Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services, in the property, casualty and employee benefits areas. It provides its customers with non-investment insurance contracts, as well as other customized risk management products and services.

Analyst Recommendations for Brown & Brown (NYSE:BRO)

Receive News & Ratings for Brown & Brown Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brown & Brown Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply